Eric Pearson built the right foundation, but when he empowered it with the right system, he increased revenue by 150%.
Using only Zillow Premier, realtor.com and his sphere of influence for lead generation, he steadily increased his production during his first year in real estate from zero to $17mm in 2012. It was impressive growth, but Eric was in need of a stronger lead generation plan to sustain it, and an agile system to maintain it.
Life Before BoomTown
Eric was using an Excel spreadsheet as his leads management system, which led to a great deal of time spent organizing data and trying to understand the effectiveness of each lead source. He manually sent email blasts to his leads, and without any analytics or a guided follow-up process, it wasn’t easy to tell why some prospects were turning into customers and others were not. His steady growth enabled him to grow from 2 to 22 agents in just one year, but individual agents each had their own processes and workarounds that were making it difficult to measure results.
He knew it was time to invest in a comprehensive system, but he felt burned from trying multiple systems that just couldn’t cut it. Despite having just purchased another system, Eric took a leap of faith to go with BoomTown, and says it was the best decision he ever made.
I decided to run an experiment with my team. I kept 10 agents on the current system, and set the other 10 up with BoomTown. Within days I saw an incredible difference. The 10 using BoomTown loved the system and were significantly outperforming the other group.
Life with BoomTown
Automated nurturing and follow-up alerts provided a solution for his agents to scale their service, and quickly send prospects relevant information in tailored messages even when they were on the go. This made it easy to build trust with their prospects and position them as experts, not to mention the relief of knowing they could stay on top of everything with ease. His team could now react quickly and the system supplied crucial intelligence back to Eric. They were free from their disparate systems, and efficiently managing everything in one place.
Better Insight + Real-Time information = No more guesswork
By tracking activity and streamlining communication with BoomTown, Eric had the insight he needed to make critical decisions. Logging into his Accountability Dashboard hourly, Eric was able to accurately measure his team’s productivity with reports made available in real-time charts with clear information. The accessibility of data helped him see his team’s effect on revenue and even justified doubling his agent roster and creating a new team structure.
“Initially we had a round robin structure, but quickly adapted to an “agent on duty” model for lead rotation after noticing the system reported some less-than stellar response times. 3 agents per day receive leads from the BoomTown system and they are required to respond within one hour or the lead is transferred to another agent.
BoomTown makes it easy for agents to tell which prospects are in what stage of the buying game, and every Thursday Eric requires four hours of prospecting the leads that are noted as being in the “Hot” and “Nurture” categories. He has his team contact “Hot” leads every couple of days, those in the “Nurture” category once a week, and for the Watch category he sets up follow-up tasks based on the estimated timeframe to buy (this could be every 4-6 months or so). These follow ups are reserved for the monthly call nights he holds to get everyone together to have some fun and make some calls. For leads in the Qualify Category, he lets his Smart-Drip tool automate the entire follow up process with email campaigns that get results.
Going for it without fear
“The BoomTown success management team works to understand our unique business goals and suggests strategies to get there, rather than forcing a one-size-fits all method on us.”
With deep and instantaneous insight on which campaigns are working, why leads are converting, and how each agent is performing, they are no longer spinning their wheels to determine what steps to take next, or bouncing back between multiple systems to conduct day-to-day tasks.
The team now has the system in place to take their business to the next level with the transparency and metrics to know what works, hold themselves accountable, and make decisions without fear. What’s the risk when the results are in?